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Leases, Codification Topic 842 | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lessee, Operating Leases | 4. LEASES Tredegar has various operating lease agreements with remaining terms up to 9 years, including leases of real estate, office equipment and vehicles. As of December 31, 2023 and 2022, the Company had no finance lease agreements. Some leases include options to purchase the leased asset, terminate the agreement or extend the term of the agreement for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The following table presents a maturity analysis of the Company’s operating leases as of December 31, 2023:
(In thousands) |  |  |
| Future Lease Payments |
2024 |  | $ | 2,635 |  |
2025 |  | 2,458 |  |
2026 |  | 2,078 |  |
2027 |  | 1,786 |  |
2028 |  | 1,557 |  |
Thereafter |  | 4,600 |  |
Total undiscounted operating lease payments |  | 15,114 |  |
Less: Imputed interest |  | 2,065 |  |
Present value of operating lease liabilities |  | $ | 13,049 |  |
The following table summarizes lease costs, related cash flow and other information for the years ended December 31, 2023 and 2022. These costs are primarily related to long-term operating leases, but also include amounts for variable leases and short-term leases.
(In thousands) | 2023 |  | 2022
Operating lease expense | $ | 2,882 |  |  | $ | 2,718 |
Other Information: |  |  |
Weighted-average remaining lease term for operating leases | 7 years |  | 8 years
Weighted-average discount rate for operating leases | 4.46 | % |  | 4.27 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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